Apart from BDA/DHL,there is no other Exclusive Cargo Airline in the country.Although Elbee once operated F27s & Cresent Air F50 for a few months.
Why does 9W not consider operationg C41s [B737-700C].
regds
MEL

I think freight is going to be next big growth market in India - however I would wait for IC to start up their own operations first. Also 9W makes a killing on freight, according to their own numbers only 50% of passengers carry check-in luggage, so there is a lot of belly space empty - the reason for the two odd 737-95R's - belly space for frieght on DEL-BOM rather than passenger utilisation.
However, the problem here is also with the new Postal Act that will be passed - it will give India Posts (and rightly so) the sole authority to carry First-Class mail (as US Post does in the US, Deutshe Post in Germany, Royal Mail in the UK) and take out the hundreds of fly-by-night courier operators who use such airlines, many wannabe frieght carriers are waiting to see what happens over there. There is still a huge market for bulk cargo and packages, so I would expect some more action soon!

Huge cargo is rather specialised - only AI can carry some degree of huge cargo in their Combi's. Currently, the aim is to get more passengers in the air, I don't think cargo will really get moving until Nagpur comes along.

It will be tough for IC/CD to get Pilots for their B732 Freighters,if there is a choice between the A319s.Also They would need to matchup to the Salary structure of Freighter Pilots in the country which is the Highest currently.
regds
MEL

Are you talking about domestic flts only?
Otherwise, Fedex has increased its presence in india by adding DEL to its network (There was already a ramp in BOM)
Del receives 2 MD11 (1 to Asia, 1 to Europe)
I think they have projects to increase their presence by developping a domestic network, but I don't know if it willl be by air ou road.
Teva

International Freight traffic into India has boomed - Lufthansa Cargo sends two MD11's daily into DEL and so does Singapore. Korean, Emirates, Air France, Polar Air Cargo also send in frequent flights. I've even caught the occasional An124 at DEL (I believe they were bringing in some equipment for the Delhi Metro once and another time it was on some Defence work). BOM also has a lot of Cargo traffic.

At the International Terminal at BOM,there are many Freight operators But Im referring to the Domestic side.
Even the much hyped Cresent Air has not been operating their F50 for some time now.
regds
MEL